Thatcherism

Thatcherism is a right-wing neoliberal political ideology that was introduced to the United Kingdom during Margaret Thatcher's leadership of the UK Conservative Party (1975-1990) and continued into the 21st century under John Major, Tony Blair, and David Cameron. Thatcherism rejected the post-World War II consensus (Keynesian economics, the welfare state, nationalized industry, and regulation of the economy) in favor of free markets, restrained government spending, tax cuts, deregulation, privatization of key industries, maintaining a flexible labor market, marginalizing trade unions, centralizing power from local authorities to a central government, and British nationalism both home and abroad.